Clovis Oncology (NASDAQ:CLVS)'s stock had its "buy" rating reiterated by HC Wainwright in a research note issued to investors on Monday, AnalystRatings.com reports. They presently have a $23.00 target price on the biopharmaceutical company's stock. HC Wainwright's target price would suggest a potential upside of 230.46% from the stock's previous close.
A number of other research firms have also weighed in on CLVS. BidaskClub raised shares of Clovis Oncology from a "sell" rating to a "hold" rating in a report on Saturday. ValuEngine lowered shares of Clovis Oncology from a "buy" rating to a "hold" rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Clovis Oncology presently has a consensus rating of "Hold" and a consensus target price of $9.64.
CLVS opened at $6.96 on Monday. Clovis Oncology has a fifty-two week low of $2.93 and a fifty-two week high of $17.37. The firm has a market capitalization of $614.31 million, a price-to-earnings ratio of -1.15 and a beta of 2.28. The company's 50 day moving average price is $5.58 and its two-hundred day moving average price is $6.64.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, missing the Zacks' consensus estimate of ($1.04) by ($0.11). The business had revenue of $39.89 million for the quarter, compared to analysts' expectations of $44.65 million. As a group, research analysts expect that Clovis Oncology will post -4.25 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can acquired a new position in shares of Clovis Oncology during the 2nd quarter valued at $32,000. Private Advisor Group LLC acquired a new position in shares of Clovis Oncology during the 2nd quarter valued at $35,000. Canada Pension Plan Investment Board acquired a new position in shares of Clovis Oncology during the 2nd quarter valued at $41,000. Ameritas Investment Partners Inc. lifted its position in shares of Clovis Oncology by 61.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,387 shares of the biopharmaceutical company's stock valued at $43,000 after acquiring an additional 2,420 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Clovis Oncology during the 1st quarter valued at $72,000. Institutional investors own 52.80% of the company's stock.
About Clovis Oncology
Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.
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6 Stocks Riding the Coattails of Nikola Motor
Since its initial public offering on June 4, shares of Nikola (NASDAQ: NKLA) have surged over 130%. NKLA stock has cooled down since then and is now trading at just over a 60% premium from its IPO price of $34 per share.
Nikola isn’t alone. The entire electric vehicle (EV) market is on a tear. In addition to the surge in Nikola stock, Tesla (NASDAQ: TSLA) stock is up over 93% and Nio (NYSE: NIO) stock has climbed nearly over 160% in the same time period. But while Tesla and Nio are actually producing cars, Nikola does not even have a plant built.
With all that said, the allure of Nikola is easy to see. The company is planning on building a fleet of hydrogen fuel cell trucks powered by hydrogen fueling stations from sea to shining sea. At least that’s the plan. But that plan is years away. The company won’t even have a fuel cell truck available until 2023 at the earliest.
And while the United States has 39 hydrogen fueling stations, it’s an expensive, complicated venture. But that’s been the problem with hydrogen for nearly two decades. And that has some investors wondering what the company’s chief executive officer (CEO) Trevor Milton is really selling.
Leaving aside the question of whether Nikola is riding the coattails of Tesla, Nikola is beginning to create some significant coattails of its own. And there’s a reason for this. While Nikola is planning to compete with Tesla in the electric car arena, it’s also covering a specific niche with a semi-truck that will run on a hydrogen fuel cell.
View the "6 Stocks Riding the Coattails of Nikola Motor".